"They Invest": Interview with Patricia Kaveh - Development Director - IVO Capital

Finance is a particularly male-dominated field, what led you to choose this path? I wasn't necessarily aiming for finance at the start.

1) Finance is a particularly male-dominated field, what led you to choose this path?

I wasn't necessarily destined for finance at first. My initial ambition was to become a consultant, but 2001 changed everything, and I had to explore other avenues for my internships. It was ultimately in finance, more specifically asset management, that I found my calling. It wasn't a planned choice, but sometimes, things work out for the best. Looking back, my upbringing played a key role in this adaptability. I grew up in a family environment where equality between men and women was a given. My mother, who has a doctorate in a scientific field, has always worked, and my grandmother, born in 1913, had a remarkable career: they were always role models of determination. My father, for his part, encouraged us never to limit ourselves, regardless of gender, with an egalitarian upbringing for my brother and sister.

The fact that finance is a predominantly male sector has never really held me back. Of course, it's a reality we have to adapt to, but in France, and especially in asset management, I find there's increasing diversity, more than you might think, especially compared to other financial professions or what you see abroad. This diversity, while still imperfect, makes a difference in our daily work.

2) To those who think that finance is opaque and complex, what would you like to say?

I completely understand that feeling, as I experienced it myself at times early in my career. But with a little patience and effort, you realize that finance is first and foremost a tool, a language to decipher. My advice is always not to be intimidated by the jargon or concepts that may seem complex. Often, it's enough to take it one step at a time, with common sense and pragmatism. Finance can truly become a powerful lever for understanding the world, but also for better managing your own resources . When you begin to understand how it works, you realize just how powerful a tool finance can be for achieving your goals, whether personal or professional.

3) Within Ivo Capital Partners, what are your convictions regarding investment opportunities?

At IVO Capital Partners, we firmly believe in the opportunities offered by emerging markets, particularly in the bond market.

Regions of the world are undergoing profound transformation, with dynamic companies exhibiting often underestimated growth potential. What is particularly interesting is the diversity of sectors and economies, allowing for investment diversification while seeking attractive returns.

One of our core beliefs is based on the carry trade strategy, which involves capturing regular returns through the coupons offered by carefully selected bonds. This approach not only generates stable income over time but also capitalizes on interest rate differentials between emerging markets and more developed economies. By adopting a long-term perspective, we are able to profit from these yield differences while prudently managing the risks associated with these markets.

At IVO, we believe it is essential to combine prudence and responsiveness to seize the best opportunities, while remaining true to our investment strategy, which prioritizes quality and sustainable growth potential. Our carry strategy plays a central role in our ability to deliver robust performance to our investors.

4) On the personal finance side, what kit have you put in place for yourself that you would recommend to your best friend?

I must admit that I'm particularly passionate about retirement savings, and this stems largely from my family history. My grandmother lived to 105, her sister to 103, and another great-aunt to 98. Suffice it to say that, in my family, retirement can represent a very long period of life, sometimes up to a third of it, and in excellent health! It was with this in mind that I started saving early, convinced that it's essential to prepare well for this stage of life.

I also subscribe to this simple rule: if you manage to save 20% of your income each year, including mortgage repayments, you'll have a year's salary saved every five years. It's a discipline I find reassuring and one that allows you to build up a good nest egg.

I structure my savings into four distinct pockets .

The first is my retirement savings, which I pay very close attention to in order to anticipate a long period of active life after my retirement – I have a PER .

Next, I have an emergency fund invested in life insurance, which I never touch. I also have a separate fund dedicated to my projects through various savings accounts , whether for travel or purchases like an apartment.

Finally, I keep a short-term savings fund readily available to deal with unexpected daily expenses – for example, a broken washing machine or an unforeseen expense. I don't trade stocks much because, working in the field, I'm less inclined to start investing for myself on weekends or holidays, so I prefer savings funds with a medium- to long-term approach. The only exception is a small crypto portfolio, but that's because I'm interested in the subject !

Finally, one last point that's important to me: I bought my first apartment quite young, even if it meant living in a smaller place. I've always seen renting as a waste, and investing in real estate has been one of my priorities ever since I was able to.